Contractor of South Stream project Saipem reports on project freezing till February 19, but doesn’t know about its further fate

At the moment, the South Stream project is frozen at least until February 19, 2015, however, Italian contractor of the project Saipem is still awaiting a "clear guidance from the client about the future of the project". This is stated in the financial report of Saipem.

Italian company Saipem, a member of the Eni group - Italian partner of Gazprom - specializes in pipe laying on deep shelf. The company was the contractor for the Blue Stream project and won the tender for laying pipes of the South Stream gas pipeline, signed a contract for 2 billion euro a few months ago.

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